Cummins (NYSE:CMI) VP Sells $1,363,356.30 in Stock

Cummins Inc. (NYSE:CMI) VP Donald Jackson sold 3,390 shares of the stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $402.17, for a total transaction of $1,363,356.30. Following the transaction, the vice president owned 7,214 shares of the company’s stock, valued at $2,901,254.38. This trade represents a 31.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Cummins Price Performance

Shares of Cummins stock traded down $6.40 during trading hours on Wednesday, reaching $594.08. The company’s stock had a trading volume of 918,018 shares, compared to its average volume of 1,002,865. The firm has a 50 day moving average price of $561.29 and a 200-day moving average price of $481.63. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.76 and a quick ratio of 1.16. The stock has a market cap of $82.08 billion, a P/E ratio of 28.95, a P/E/G ratio of 1.86 and a beta of 1.13. Cummins Inc. has a one year low of $260.02 and a one year high of $617.98.

Cummins (NYSE:CMI) last released its quarterly earnings results on Thursday, February 5th. The company reported $5.81 EPS for the quarter, topping the consensus estimate of $5.17 by $0.64. Cummins had a return on equity of 25.71% and a net margin of 8.44%.The company had revenue of $8.54 billion during the quarter, compared to analyst estimates of $8.09 billion. During the same quarter last year, the business posted $5.16 earnings per share. The firm’s revenue was up 1.1% on a year-over-year basis. On average, analysts predict that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 5th. Shareholders of record on Friday, February 20th will be paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Friday, February 20th. Cummins’s payout ratio is presently 38.99%.

Institutional Trading of Cummins

Several institutional investors and hedge funds have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. raised its position in Cummins by 10,317.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,458,475 shares of the company’s stock valued at $1,254,929,000 after purchasing an additional 2,434,876 shares in the last quarter. Norges Bank purchased a new position in shares of Cummins during the fourth quarter valued at $863,441,000. Boston Partners bought a new stake in shares of Cummins in the third quarter valued at about $473,471,000. London Co. of Virginia bought a new stake in shares of Cummins in the third quarter valued at about $231,732,000. Finally, American Century Companies Inc. grew its holdings in Cummins by 138.8% during the 2nd quarter. American Century Companies Inc. now owns 909,653 shares of the company’s stock worth $297,912,000 after acquiring an additional 528,689 shares in the last quarter. Institutional investors own 83.46% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Argus set a $696.00 target price on shares of Cummins in a report on Tuesday, February 10th. Barclays increased their price objective on shares of Cummins from $546.00 to $610.00 and gave the stock an “overweight” rating in a research report on Friday, January 23rd. Weiss Ratings restated a “buy (b-)” rating on shares of Cummins in a research report on Monday, December 29th. JPMorgan Chase & Co. upped their target price on Cummins from $485.00 to $580.00 and gave the company a “neutral” rating in a research note on Wednesday, January 14th. Finally, Robert W. Baird set a $580.00 price target on Cummins in a report on Friday, February 6th. Eleven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Cummins has an average rating of “Moderate Buy” and an average price target of $588.93.

About Cummins

Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.